Do you remember 2017?
You should, it was pretty much the year that put bitcoin and crypto on the map as bitcoin ran up roughly 20x from $1k to $20k in the same calendar year.
By all accounts it was a parabolic moon shot.
Looking at the chart it was pretty hard to imagine we would ever soar above that again let along dwarf it like we are now.
What if the rally back in 2017 ends up looking like the rally before it back in 2013-2014?
Like another blip on the screen?
(Source:
)https://twitter.com/dergigi/status/1360042048951361537/photo/1
- dergigi
When it's all said and done we look back at this chart and all that price activity in late 2017 ends up looking like a little bump in the road similar to how the 2013 bump looks now.
I am not sure that's how it's all going to play out, but if bitcoin is going to go to these crazy high numbers many are predicting, that's exactly how the chart is going to look.
It's the main reason people like to use log charts when plotting bitcoin's trading history.
The moves up are so large that it makes everything that came before it look like it little speed-bump, when really it was a 20x (or more) rally.
As long as the government stays out of things I think we have a really good chance to see it repeat again this time around.
A 20x move from the previous $1k high, took the price to $20k. The same move this time around from $20k, would take us to $400k.
Something to think about.
